BCBS’ Corporate Governance Paper Highlights Need for a "Sufficiently Robust" IT Infrastructure for Risk Management

Basel Committee tower In keeping with the recent onslaught of regulatory papers aimed at fostering a more risk aware financial services industry, the Basel Committee on Banking Supervision (BCBS) has published yet another consultative paper this week, this time focused on corporate governance. The paper includes 14 principles aimed at sparking investment by firms into their risk infrastructures and a more responsible attitude to risk management, a key part of which is having access to the right data at the right time.

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17 Mar 2010
 
FactSet Research Systems Witnesses Revenue Uptick of 0.5% for Second Quarter

Phil Hadley FactSet After a difficult first quarter of fiscal 2010 (see our coverage here), data and analytics vendor FactSet Research Systems seems to be experiencing a return to form with an overall revenue increase of 0.5% for the second quarter on previous year’s figures. Phil Hadley, chairman and CEO of the vendor, indicates that he believes the investment in its business via the launch of a new platform and the decision to go from offering data integration services to offering its own data feeds has paid off for FactSet and is the reason behind its “highest quarterly user growth in two years”.

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17 Mar 2010
 
 
 
Lehman Investigation Indicates Immense Scale of the Data Challenge Due to 350bn Pages of Data and “Arcane Systems”

Lehman Brothers The recently published examiner report into the Lehman bankruptcy indicates the scale of the data challenge faced when winding down a financial institution of its size: the examiner was faced with three perabytes (otherwise known as 350 billion pages) of electronically stored data to process. Unsurprisingly, given the fact that information needed to be presented before the end of the next century, the examiner was only able to collect and process five million of these documents (around 40,000,000 pages, or 0.01% of the total number of pages). This challenge was further exacerbated by the storage of this data on “arcane, outdated or non-standard" systems, said the report by Anton Valukas of Jenner & Block.

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17 Mar 2010
 
Deceval Appointed as NNA for Colombia for ISIN and CFI Codes

The Colombian central securities depository (CSD) Deposito Centralizado de Valores de Colombia (Deceval) has been appointed as the national numbering agency for the country, according to a recent letter from the CSD’s CEO Jorge Hernan Jaramillo Ossa. Deceval will therefore be responsible for allocating six character Classification of Financial Instrument (CFI) codes and 12 character International Securities Identification Number (ISIN) codes for securities in the Colombian market that are subject to the ISO 6166 and ISO 10962 standards.

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16 Mar 2010
 
 
 
 
 
CEBS Produces Advisory Paper on Liquidity Cost Benefit Allocation to Support New Risk Requirements

In order to assist the European financial services community in its attempts to improve liquidity risk management, the Committee of European Banking Supervisors (CEBS) has published a new consultation paper on how to go about producing an effective allocation mechanism for liquidity costs, benefits and risks, CP36. The recommendations are aimed at providing firms with a framework upon which to build internal pricing mechanisms to price liquidity risk and to align liquidity risk management culture across their organisation via suitable incentives, which are likely to include significant data gathering and technology requirements.

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15 Mar 2010
 
Half of Eagle’s Pipeline is Now from ASP Side of the Business, Says Newland

Danielle Newland Eagle The focus of data management projects may change along with the questions around achieving business buy in, but the answers about the benefits and practical considerations remain the same, says Danielle Newland, product manager of data management solutions at Eagle Investment Systems. What has changed, however, is the level of interest around outsourcing and application service provider (ASP) solutions in the current market. According to Newland, 50% of the vendor’s pipeline is coming from the ASP side of the business; thus backing up the predictions made by her colleague John Lehner last year (see here).

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15 Mar 2010
 
SunGard Acquires Hosting 365 FREE - A-Team Wire

12 Mar 2010
 
DST Global Solutions’ Harries Discusses His New Risk Management and OTC Derivatives Focused Role

Geoff Harries DST Following the appointment of Geoff Harries as the new global head of asset servicing for its Investment Management Solutions (IMS) business earlier this month (see here), DST Global Solutions is hoping that the ex-Fiserv exec will bring his experience to bear on his new OTC derivatives and risk management focused role. Harries speaks to A-Team Insight 20 days into his new role, which involves responsibility for the vendor’s product strategy for its investment accounting platform HiPortfolio and its OTC Lifecycle Manager solution.

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12 Mar 2010
 
Industry is Experiencing Second Wave of Outsourcing, Says Netik’s Close

The regulatory scrutiny of data quality is driving firms to join in with the second wave of outsourcing that is sweeping the market, according to Colin Close, CEO of hosted data management solution vendor Netik. Close reckons that firms should not wait for standards to be set, either by the regulator or bodies such as the EDM Council, before tackling their data management challenges and that a new level of pragmatism is evident in the market.

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12 Mar 2010
 
Data Management Could Learn from Performance Measurement Standardisation, Suggests Robeco’s Reiners

The data management community could potentially learn a lot about standardisation from the world of performance measurement, suggested Corné Reiners, head of both FSC performance measurement and data management at Robeco Asset Management, to delegates to TSAM in London this week. A lot of cooperation has been achieved within the area of performance measurement between asset management firms and this led to the development of Global Investment Performance Standards (GIPS), which have achieved great traction in the market, he contended.

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12 Mar 2010
 
Regulation is Driving Force Behind Data Management Change, Agree EDM Council’s Atkin and JWG’s Di Giammarino

Driving force pic They may differ in their opinions in how to go about effecting change (see last year’s FIMA standards panel for proof, see here), but EDM Council’s managing director Mike Atkin and JWG’s CEO PJ Di Giammarino agreed that the regulatory environment is forcing firms to re-evaluate their data management systems. Both Atkin and Di Giammarino told delegates to TSAM in London earlier this week that the regulatory community is delegating the responsibility for improving data quality to the industry in order to enable them to better track systemic risk.

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12 Mar 2010
 
Broadridge Upgrades UK Nominations and Voting Service FREE - A-Team Wire

12 Mar 2010
 
 
EDM Market Experiencing a Strong Start to the Year, Says Asset Control’s Enfield

Rick Enfield Asset Control Since the launch of its AC Invest solution in October last year (see our coverage of the launch event here), the enterprise data management (EDM) solution vendor has witnessed an uptick in client interest in its new compliance focused offering, according to Rick Enfield, product business owner of the vendor’s AC Plus solution. The shift from approaching data management as a technology problem to seeing it as a business driven challenge has lent credence to the cause of EDM, he says.

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11 Mar 2010
 

 

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